insurance coverage

[mari]

can you tell me what is the amount of coverage that i would need for a broker authority:

[Admin]

We do not write insurance, but if you are referring to a freight broker, the ICC requires a $10,000 bond. You can apply for it at: http://www.jwsuretybonds.com/apply.php

[select]

Mari- as a freight broker you are not required to have insurance, but as a broker myself I personally have 250,000 contingency cargo. I have a shipper that requires me to carry that, as most brokers that do have insurance only carry 100,000 contingency cargo and liability. hope that helps you?

[don jipping]

MARI- "select" is right on the money with coverage required for freight brokers. Many shippers require the broker to carry contingency cargo.
As far as compliance with the FMCSA, all that is required is 10k bmc-84 broker bond or the preferred method of 75% of brokers is the BMC-85 Brokers TRUST
FUND

Don Jipping

[abdulhameed]

hi every one
im new to this forum
can anyone tel abt insurance bond and it uses.. i wish to know it..

[Admin]

Originally Posted by abdulhameed

hi every one
im new to this forum
can anyone tel abt insurance bond and it uses.. i wish to know it..

You will want to visit the Surety Bond Blog for general information.

Feel free to start a new topic if you have specific questions.